There are few regrets in life, but buying a house in Oceanside is at the top of the list. We had the money to buy a house, but we panicked because our son was months away. We decided Oceanside because my parents lived there, and thought they could provide some non-financial support. That didn’t work out that well since my parents never wanted to be like their parents, sweet grandparents who knew their role and respected the role of parents in the child-rearing business.
It was $538,000 with a $388,000 mortgage at 5.375%. Thanks to buying from people who didn’t put a nickel in the house for 20 years and a flood, the house has been fully renovated and expanded. We refinanced to a 15-year mortgage at 3% right after Hurricane Sandy. The mortgage has 3 years left and I grew tired over that $3500 (taxes, insurance included too) nut a month. We paid off the mortgage with what remained of my graded baseball card collection.
Getting rid of the mortgage is an accomplishment because I come from a family where two uncles had two foreclosures and a mother who was insistent that she refinance and take money out, also with the silly notion that the mortgage is deductible (she probably still doesn’t realize it’s only the interest). It’s also an accomplishment that despite all the turmoil with the Hurricane and some bad situations, we never missed a payment. In a world of a lot of fake accomplishments, paying off this mortgage is personally, one of the biggest accomplishments in my life.
